1:02:05 Two things. Like I said, 90% of what she said, I totally agree with. I mean, she completely. But one is how it's going to be spent. When she says programs, whoops. Then we're getting off track there with her. Right. Even you caught that. I mean, not so you couldn't, but I mean, like, that was, I mean, the reason why I say even you, people like me are more sensitive and we're listening for the BS. Of course. We're waiting. We're waiting. I mean, because we've been BS for so long. It's like, you know, it's like you're talking to a used car salesman when you talk to politicians. You know, you're waiting for that. You know, what's the hook going to drink? Right. Right.
1:02:49 And when she said two things, and she has to stop saying this. One, well, when you do the math, 40 acres in a mule adds up to trillions of dollars. But then it's going to be 200 to 500 billion. And my dad said, whenever you say, but, that is the case. Yeah, what came before it. That's exactly right. So you can't say, yeah, we owe you two. And I say trillion. So just say two, and it's ain't because that's the lowest number you can say if you use it in plural. You say two trillion, but we want to give you 200 billion. That math just doesn't fly with me.
1:03:32 Right. And then two, and then you're going to put it in programs. Yeah, you know what I mean. That's what it means. It's going to get stolen. It's not going to do any good. All right. So it's something that you and John talk about because something she said, she said it's not politically feasible. It's not feasible, yes. Yes. It's something you and John talk about this new monetary idea of printing money. Modern monetary theory, yes. Can you dive into that? Well, I can try. And I got this. Well, it's actually
1:04:10 a widely discussed topic now. It's starting to come. You even hear them talking about it on financial channels from time to time, MSNBC. But I liked it, hearing it most from my friend, the former New York banker, who worked at a big, big bank in New York, and he was involved with sovereign wealth funds. And he knows, he really understands how this works. So as an example, and he's not a Trump fan, he'll say, oh, China tariffs, Trump's got all the cards. China's fucked. They may come back and try and come back for revenge in 20 years, but Trump will win this. Then when it comes to modern monetary theory, the whole idea is that the United States uniquely can print as much money as it wants and it will not hurt our economy.
1:04:58 And it's counterintuitive to everything that economics says. It's counterintuitive to the Austrian school of economics. It's counterintuitive to the Republican Party, who are always about, you know, you got to bring down the deficits. And at the same time, you've got to bring down taxes. And I say, well, how do you know this will really work? He says, well, look at Trump's tax cuts. Printed trillions of dollars for the rich, essentially. What happened? Not much. Here we are. We're just cruising along. So the theory is you could print up as you want to go to Mars.
1:05:35 We should be able to print up as much as we want. And it's not so much that, I mean, I think what you need to understand is that the Federal Reserve and all these monetary people and the Federal Open Market Board and who decide what we're going to do with interest rates because that keeps the economy in check. They have no clue. They don't know. In fact, it almost seems like they do know. They want to blow things up. You got to have bubbles and bubbles, you create them and you get war and it's good for all bullet of all walks of life. But they really don't know what the unintended consequences are of any moves.
1:06:18 And no politician does. No human being really does. Because there's always something that doesn't quite work out right. And in this case, it appears that contrary to popular belief, printing American dollars and spending them on stuff for Americans has no detriment. I mean, of course, people fall off the edge all the time. And that's, you know, there's, as you would say, there's a bottom somewhere. And that bottom is not going to be pretty. But in general, it has only helped everything. And it's, and I've actually, I'm seeing him today because I asked him the question over email, he didn't answer.